Los Angeles-based private equity firm Levine Leichtman Capital Partners (LLCP) has sold its portfolio company Therapeutic Research Center (TRC) to Colibri Group, a portfolio company of Gridiron Capital.
Financial terms of the transaction have not been disclosed.
TRC is a provider of independent, evidence-based continuing education and training for healthcare professionals and institutions with a particular content focus on drug therapy recommendations and medication management.
The sale of TRC, an investment of Levine Leichtman Capital Partners V, is LLCP’s 18th successful exit since December 2020.
Morgan Stanley & Co LLC served as the lead financial advisor to TRC, with support from William Blair & Company, LLC and Deloitte Corporate Finance LLC, and Kirkland & Ellis LLP served as legal counsel in connection with the sale.